Lenovo Group Q4 profit surges more than three-fold

Credit: REUTERS/Bobby Yip

HONG KONG, May 23 (Reuters) - Lenovo Group 0992.HK reported a more than three-fold increase in its quarterly profit thanks to strong computer sales.

Lenovo's profit in the quarter ended March rose to $118 million, beating an average estimate of $91.4 million by seven analysts, according to Refinitiv data.

Revenue rose 10 percent to $11.71 billion, in line with the average estimate of $11.65 billion by 11 analysts.

For the full year ended March, Lenovo swung to a profit of $597 million, from a loss of $189 million a year earlier. Revenue rose to a record $51 billion.

(Reporting by Sijia Jiang; Editing by Anshuman Daga)

((Sijia.Jiang@thomsonreuters.com; +852 65313893;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.